BREXIT AND ITS IMPACT ON BRITAIN

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    BREXIT

     

    1963 – Britain’s first attempt to join the Common Market was refused by Charles de Gaulle, who was said to be worried about English taking over as Europe’s main language.

    1973: Britain joins the EEC-

    The United Kingdom had become a fully-fledged member of the European Economic Community.

    Ireland and Denmark also joined Britain in becoming the newest members of the community, bringing the total number of member states to nine.

    1975: Two years after Britain joined, it was already leaning towards the exit, but the public endorsed the UK’s continued membership, with 67% of people voting to stay in.

    2014 – The PM David Cameron said he was ready to lead Britain out of the EU over the issue of migration.  In his long-awaited speech on Europe, Cameron said, for the first time, that he will “rule nothing out” if fellow leaders reject his plans to overhaul the benefits system.

    2016 – A troubled Eurozone and an ongoing migrant crisis had increased anti-Europe sentiment. Therefore, Cameron announced in February this year that a referendum on Britain’s membership of the EU would take place on June 23.

     

     

     

     

    IMPACT OF BREXIT ON BRITAIN-

    1.     Markit’s PMI report suggests that the UK economy is shrinking at a quarterly rate of 0.4%.

    2.     Brexit could have a modest negative impact on growth and job creation

    3.     There have not been any new trade deals after brexit

    4.     The latest inflation results for June 2016 indicate there was a 0.5% rise in the consumer prices index. This compares prices in June 2016 to prices in June 2015.

    5.     The most recently published unemployment figures show there were 31.7 million people in work and 1.65 million people unemployed. 

    6.     It is not likely that any particular region or regions of the country would be more adversely affected by Brexit than the country overall.

     

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